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tv   After Words with Steve Case  CSPAN  May 8, 2016 12:00pm-1:01pm EDT

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significant women in entertainment in "rad american women a-z" and in smarter, faster, better we look at how to improve productivity and in new death we look at how americans cope with the end of life. many of these authors have appeared or will be appearing on booktv. you can watch them on our website, >> afterwar words is next. steve case speculates on the future of the internet and discusses how to navigate the everchanging landscape. he is joined by the representative from maryland. >> >> host: this is going to be a
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special treat for viewers to talk about your new book, "the new wave" we have known each other for years so it is privilege you being here. >> you are a successful serial entrepreneur and one of the few people in congress that understand that startup community. >> host: my first question is the timing of the book. you went to america online when it was called something different. in the '80s it had a different plan and you reformulated the company. you were the founder and leader really. you lead the company through the '90s and it became one of the most iconic companies and you are one of the most iconic entrepreneurs in america history and one of the great business people of our generation.
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>> guest: let's stop there and call it a day. >> half of america connected through aol and then you had the merger with time warner, biggest merger in history, you started the revolution investment fund that invested in a hundred startup companies including zip car among others. why write the book now? i have to imagine the factor in those days at aol people were beating down the door. when you told me about the book, i had an opportunity to see the book before it was published, which was a privilege, i was like how come he hasn't written
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a book before. why now? >> that is a great question. people talked about it 20 years ago trying to get me to write about the lessons from that merger. but i wasn't interested in memoir. i have been more interested in what is happening next or the future than the past. so i just wasn't that motivated. it was about two years ago, i have been touring around and visiting cities all across the country and looking at startups all around the country and it it dawned on me there was this first wave, second wave and third wave about the break and it would be different and the lessons from the first wave would be helpful to the third wave so maybe it was time to write a book mostly about the future but tell stories about the past. once it became less about a
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memoir, and more about the future and a playbook or roadmap and in terms of what will happen in the future i became more interested. i started writing it two years ago and it is finally out. >> before we get to the substance of the book, i want to spend a little time on your background. one thing i am happy about as your friend when i read the book, you didn't want to write a memoir but you gave us a little look in your background, how you thought about the world as a young entrepreneur and the aol days. you are from hawaii, born and raised in hawaii, and up until about eight years ago you were probably one of the most famous people from hawaii and probably until eight years ago you were probably the most famous person from your high school.
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>> i got elbowed aside. >> president obama was at the high school as well. >> it is the 175th anniversary of the school. i was a little older than the president. i still am older. i was a senior in high school and he was a freshman. so we didn't have any classes together but we played ball together. when he came to the senate we worked together and then as president. you are completely right. in hawaii, i am thinking i had a good run until the president managed to in a pretty significant way toss me aside. >> people were wondering what was in the water.
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>> even the third wave title is like going back to the roots. >> you and the president must have a good friendship. you worked with president bush, and president clinton as well. so public policy is a big part of who you are and i want to come back to that because that is our audience. but before we get much further, what i liked about the book, and when there is a big thing going on, and nothing is bigger than the internet. you can argue it is the most important economic force in history in terms of pure economic force in terms of change where you ushered in the business model and the internet to people's home. what is great about the book is you overlay an analytical framework as to how we ask thing about this. you break it down into the first wave, second wave and third wave.
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so can you explain that thesis? >> the first wave was building it and building awareness of why you should get connected to the internet and building the onramps with the software, networks and servers to get people connected. when we started in 1985, only three percent of people were online and only online one hour a week. we wanted to get america online more than that. it took us a decade before it got traction. and most of the decade most people thought why would anyone want to do that? it was a hobby, corky thing. in fairness back then it was hard and expensive to do. if you were able to get online there wasn't much to do, not much to talk to and not much content. so it took a while before it was ready for primetime but that was the first wave.
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the second wave has been building on top of the internet with apps, services, google and facebook and software riding on top of the internet created opportunity and iconic companies in the second wave. but i think the third wave is going to be different and that is integrating the internet in every aspect of your lives. how we stay healthy, how our kids learn, how we think about food, energy, investing money. fundamental things that changed in the first and second wave but not that much. the way most people deal with the health care system is about the same. they walk in and have to fill out the same form. it is not as precise. you can order a pizza on your phone or watch netflix but i think the things around health
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and education haven't changed and they will change a lot in the third wave. but everybody understands this and the definition of work is even changing more in the third wave. the first wave is building, seck wave building on top of it and third wave is integrating it into our lives and in the process disrupting the largest industries in the country with world which creates enormous opportunity for people that understand where the puck is going and can position themselves. >> host: in a way, in the third wave we stop thinking of companies as technology companies. >> guest: exactly. >> host: and we start thinking technology is part of every company. the basic tools we thought existed in business and became integrated into business
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technology becomes that. one of the great things about the book, when you took aol public it had 30 million in revenue and worth 70 million. now we have google, apple, facebook, amazon, collectively these companies are probably worth two trillion dollars. >> host: it is an extro extraordinary thing to think about this. you are saying we will not think about this eventually. >> guest: in some ways every company is a tech company. even the internet is shifting from being an interesting phenomena and in the future it
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will be taken for granted. i think the internet is on a similar path and i think we will get there when we don't have hyphenated mail. it is called e-mail but one tay it will be mail and same for e-commerce being just commerce. it will take another 10-20 years and we are on the path and the third wave is the next wave of taking the idea and shifting it from being a corky technology think to being a fundamental part of every day life. >> one of the things i admired about you is you strike me as a big optimist -- >> guest: i think entrepreneurs have to be optimist. >> host: there is a lot of debate about the effect
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technology has had on our world. i am of the view it has been enormously positive. but when you look at technological innovation and combine with global interconnection it has been a blessing for many people here and around the world but it has pressured us in terms of anxiety in our lives with being so connected and hurt a lot of middle class jobs. while we created new jobs, there haven't been the equallibrium. why are you so positive about where this is going to take us? >> i completely agree with our characterization. i am not in the tech camp where everything is positive and sprinkle technology on anything and it will solve the problem. there are positives as you
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mentioned and there are negatives. how do you maximize the positive and minimize the negatives? i think the internet has been an enormous force of good. internet access available in cuba is going to be a ga game-changer. >> host: we look at their cars and think they are behind time. >> guest: the hotel i stayed in said they had wi-fi and one of the people said can i use it? last summer we were in africa, visited kenya and ethopia and ghana and because of the internet and innovation around the solar and other kinds of energy technologies is incredibly empowering and liberating. but sometimes we are too connected. the good news is we have the ability to get connected but the bad news is sometimes we are
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hyperconne hyperconnected and we need to put the phone down and have a face to face conversation. it is true technology has created jobs but hollowed out jobs as well. how do you find the innovations of the future but bring everybody along. uva put another an initiative around small business and the report that came up is can startups save the american dream and i think the key is, just as we saw the internet democratizing access, i think there is an opportunity to democratize access to entrepreneurship and opportunity so everybody feels they have a shot. not everybody does. a lot of people do feel left out and part of the reason i wrote the book is to lay out a framework for everybody. not just the entrepreneurs or the technology people but everybody look at how the world
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is developing and what are the opportunities for our own kids that might help give you a better, brighter future. >> you talk about health care, education, you know what are some of the examples or areas that could be transformed by this third wave, by technology? it can really change how we are thinking about the problems we are. >> any time an entrepreneur sees a problem they see an opportunity. in education, a lot of things have been done in the last few decades in terms of computers in classrooms. i am not a tetcher but i talk to teachers and they will say the way they are teaching is about the same 20 years ago and the way students are learning is about the same as 20 years ago but there are advancements in personalized adaptive approaches to learning. not all kids learn the same way, some take more time, some are visual. having systems that customize the learning is important.
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having teachers have a sense of what is going on with individual students and where they really are struggling and need more help. that is one example of the third wave. that is not just about software but integrating it with features and partnerships. it is not just about new learning in the cloud on the internet but how you improve learning in the classroom. in health care, interesting developments there particularly on the wellness side like the fit-bit being poplar. managing chronic disease is the same way for the most part, particularly a life-threatening disease. md anderson said when they have people coming for second opinions on cancer 25% of the time they change the opinion. so more data, more personalized approaches to help and technology is part of that solution. it is not just the engineers
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solving the problems. it is the engineers partnering with the doctors and hospitals to figure out ways to knit ni things together and usher out the care. >> host: we are on an island and know what is best and that is an insular view of the world. then you have people saying government should be driving this. one thing that is important
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about your voice is it is balanced. kwou talk about how there is a role for government for us, it is a positive role, but we have to be careful because government clearly can stifle innovation, it can get in the way, it is too bureaucratic and there is not enough balanced voices particularly people who had the business career you had. what kind of brought you to that point? is it the fact you lived in washington, d.c. for a while? >> guest: i think d.c. helps, understanding the people, and part of the reason i am more
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involved.he reason i am more they need to respect each other and figure out the best process. >> government is large and most things are very large and bureaucratic and not nim disable and the government isn't nim disable -- nimble.
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you touch on that in the book, and i don't want to provide fuel for the fire that people say you are advocating for government because you are not. you are talking about smart government. what do you this can if you could get government to act against a couple things? thinking about the partisan gridlock which presented us from doing anything. what is two or three things you think are important for the government to try to do and get right to insure that america maintains its competitive advantage related to entrepreneur? because you are little worried about that.
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>> guest: i am worried about that. i remind myself 250 years ago america was a startup and now we are the leader of the free world. we led the way in all revolutions. we went from being the startup nation to the leader of the free world but that doesn't mean it is not guaranteed to continue. the secret sauce that animated the u.s. story is innovation. so you see others figuring out ways to create the right investment and regulatory environments. it is a global battle. we saw the globalization of entrepreneurship and we have to understand that and step up the
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oversight and i talked about a number of things doing that. the work the congress did with the white house and the jobs act that legalizes crowd funding is important because it lowers the playing field to entrepreneurs who don't have the money can use the internet to raise capital. the fcc put rules in place, there is still work to do but it is a step in the right direction. another is to make sure i understand particularly this election year and i imagine listeners have opinions on this and the issue of immigration is hot and politicized but we cannot remain the most innova innovative country if we don't have the best talent and immigration has many facets. one example i mention in the book, which is a sad one, there is an entrepreneur at warton, started a company after graduating, wanted to stay in the united states but couldn't
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get his visa extended and had to go home, in his case to india, and that company now has 5,000 employees and is worth millions in india but he wanted to built it here. and regulations. how do you figure out the right regulations that protect people but enable innovation as well. there are some regulations that have designed to make it harder for the innovator and those are bad. some regulations are designed to protect people and that is good. how do you take a fresh look at them particularly where they are converging and colliding. >> host: if someone is an entrepreneur they think the big companies are hurt by the
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regulations but they protect the big companies and make it hard for entrepreneurs to get started in some of these fields. >> guest: another thing i discovered is most people think about business in monolithic way. small business/mainstream restaurants are important. big business is important but the job growth is coming from the young startups. and big businesses want the larger regulations and the smaller ones want less. they want to figure out ways to access capital and to survive and thrive. different mindsets in terms of the business community and we need to be sensitive and create the right environment. we maximize the opportunity to lead.
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i think it is possible. but if people get complacent, and the best example, a tragic example, is detroit. 75 years ago detroit was silicone valley and the most innovative city in the country when the car was the hottest technology. it lost its entrepreneur mojo and a bunch of other things happen and lost 60% of its population and went abrupt bankru bankrupt. and other cities, kansas city, new orleans which is fighting back, are showing momentum around startups. that gives me hope. but if we get complacent and thing america is always going to be this innovative nation there is risk. that is part of the reason i wrote the book. not just a playbook for people's
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lives but a manifesto saying we can win here but we have to change our tune. >> it is such an important point. people on capitol hill and again as an entrepreneur this shocked me. but what you said is true. they categorize companies as big and small companies. big companies as a group largely don't create any jobs if you look at the data. and even though two 3rds of the job are in small and mid-size business which is stat people like to talk about and why they are important but as a group tla don't actually create a lot of jobs. it is all of these gizels which is a small company that gets going, it takes off -- aol is an extreme example worth 70 million and a decade later worth 160 billion. that is an off-the-chart extreme
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example. in my home state, you have under armor, great example. small company selling a unique athletic shirt people thought was a niche product that would be in the corner somewhere but the founder, ceo, kevin plank, and we visited the headquarters, it takes off with thousands of employees. >> guest: in baltimore! >> host: you mentioned the job stack and you were a huge instrumental force in getting passed which created with situation where startups with cap -- can happen. you have done a lot of work on immigration reform. there are fabulous cities around the global attracting
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entrepreneurs with capital and free xhaeconomies. a lot of the viewers follow the government and are caught up in the debate we are all caught up in. we got something done with the job bills, not with immigration reform, but we moved the ball a little until recently. you have been very much involved in that debate. you have been a big voice around additional money for research. what have you learned from your experience trying to get stuff done in congress that is relevant to think about? >> guest: first all, you are kind to say that. i played a little role in the job acts. but congress did the work. i was on the sidelines. one thing i did learn, including with the merger with time warner, which obviously didn't work out how i was hoping is it comes down to people and trust
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in relationships. part of the challenge in washington is that is lacking. people are in their camps and not really talking to each other and not trusting each other and therefore talking past each other. so figure out some ways to focus on the facts and bringing a coalition is important. i consider being a centerist and people on both sides view that as it is all or nothing. ...
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and there are certain regions, california, and other california , new york, the dc area to name a few others that had this proportionally benefited from the growth we have had and a lot of parts of
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the country are suffering and one of the things you try to do is find the next steve jobs and in a lot of places around the country that people don't think of as obvious places and so to talk a little bit about what you're doing their and where you see the opportunities because because this is the thing if we get this right, other communities and even the atlantic magazine had a great cover piece where he went around to 70 different large towns, small cities and when i saw the piece the first thing i did was think of your work and it was very optimistic and a lot of good things were happening in smaller cities, larger towns around the country that were not obvious, so tell us what you are doing their. >> speaker2: the core idea, it's all of the country and there are great companies being built and
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most of them going there, last time 70-- 75% just went to three states. the media attention is on silicon valley and i think that is wrong. >> how much to silicon valley get. >> over half, maybe 40% overall, so it definitely has the least, but if you look at the arc of america's history i talked earlier about what detroit-- silicon valley was apple orchards of these things rise and fall and in the agricultural revolution, that was in the middle of the country and there are great countries in the middle of the country and some of the great interventions around farming, my guess will come from those places, the industrial or-- revolution was powered by cities like
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pittsburgh and they are still good it making things. so, you're starting to see examples like it will accelerate and if we do help figure out a way to drive more catch-- capital to these entrepreneur, they will create more jobs and it's not just about anyone business or anyone entrepreneur, it's how do you create the environment where that innovation is more evenly dispersed around the country and people don't feel so left out and feel like they can be part of this and related to that is the hold idea of inclusive entrepreneur and last year 90% of it went to man, 90% of capital, which doesn't reflect the ideas and if you look at the crowdfunding sites like kick starter, it's the whole core, so
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if you went to the school and you have that access-- [inaudible] >> that is a game changer in terms of leveling the playing field and if people have an opportunity to have their idea out there and it's more democratized in terms-- in more inclusive and i think people of color also disenfranchised, so we will remain the most entered-- innovative nation and we need everyone to have a shot at the american dream and that is not just from investing entrepreneur that went to stanford or the infant-- engineers coming out of mit or boston or cambridge, it's also people, former teachers in new orleans who are coming up with educational software or former
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farmers in kentucky who understand what needs to change in farming or doctors at the cleveland clinic or the mail clinic or those who have ideas in terms of figuring out a better path in terms of health, so i'm optimistic that it will be more broadly dispersed in a more level playing field and it has to. >> host: part of your thesis around the "the third wave" is the internet of everything, so-- in a matter we have seen it used with the first wave of connecting people in the second wave was social and absent now it's basically taking kind of every day aspects of our lives in things we did not think for technology in their kind of superficial orientation and empowering them and changing them, so that will argue that like the agricultural industry, which is not headquartered in northern california, it's headquartered in the center of
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united states, like st. louis. >> guest: they ought to be the people and you touched on this in the book and this is a interesting points for policymakers around the country is that they suddenly have a stronger hand then they thought to the extent they have traditional industries as their economic roots as those industries transform with big data, interconnection come innovation, etc. they will have a comparative advantage because they know something about the subject matter. >> guest: it they are agile and can figure out a way to innovate and not just within their companies that build a common network and connect to entrepreneur and connect to ideas. the first wave in the second wave, big companies were generally watching on the sidelines for example one of the most successful second wave companies would be air b&b,
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which came up with a new model for hospitality and did not exist 10 years ago. if someone had pitched as the idea that we would create a platform to rent out a unused room we would say that's a work. it works. it's worth $25 billion worth more than helton or marriott and they don't even hold the rights, so that's the kind of innovation that happen with the second way, that accretion of a marketplace. the third wave will be connection with software, connection and other stock and figuring it how people are leaders in those core industries , healthcare, transportation, food like that they have an advantage if they figure out where the market is going and if they figure out a way to to create partnerships with the entrepreneur's. both will need more government and i understand entrepreneur does not want to hear the
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government will become more important in the third wave, but it will be because these sectors are regulated in the government will have a role in figuring out what the rules of the road are, so it's different mindset. >> host: americans with gray hair or no hair have more of an advantage of entrepreneur then the first or second wave, which was kind of people in their garages. >> guest: the first wave, because that is again part of i wrote the book because some of the dynamics in the first wave is the imports of partnership and government policy and perseverance. not important in the second wave, but becoming more important in the third wave, so the second wave of the twentysomething dorm entrepreneur will be less common in the third wave and probably will be someone older, someone who understands some of the dynamics in healthcare or farming or education and it's a balancing act. the innovators will tell you one
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of the benefits of not knowing anything about an industries you can ask questions and see things , which is true, but in some of these sectors if you don't know anything about teaching or anything about how doctors will practice or how farmers think some of the challenges they deal with any probably won't get the right answers. it will come from people closer to the problem and marrying those two will be the tricks of the third wave. not so went into-- but bring along people and understanding of what has happened in the one to figure that out will be the big successes of the third wave. >> that's a interesting opportunity for these communities and what a lot of them should be excited about is sometimes it just takes one company. like i saw what happened because i was in business at the time in
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the dc area and there were not many entrepreneur's here because it was a government count. aol comes along and becomes this breakout company and really seized a region, a few others as well, but one or two companies can make a really big difference. in terms of creating this ecosystem. people get these breakout evaluations are companies cope from being worth nothing to 20, $30 million in people make a bunch of money and go off and it's a natural cycle. >> guest: seattle and microsoft and amazon and recently baltimore with under armour and it's not just the jobs graded by the a company like aol or under armour because we went from dozens to hundreds of thousands. it was the tens of thousands, maybe hundreds of thousands of jobs created because of that growth in terms of jobs for people building homes, new restaurants, so if the community
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is growing is creating jobs throughout the community, not just in those specific startups or when they get to be growing. how do we unleash that in other parts of the country so people really do have a sense their community is on the rise as opposed to some of these cities where people grew up in their parents tell them you should move away because there are opportunities someplace else, so the third wave will be a boomerang of power people want to come back. they want to come back to new orleans, des moines are many other cities around the country and they want to raise their families there and have opportunity, career opportunities and because of some of the things that happen in the second wave i crowdfunding an opportunity the third wave will create around partnerships i think we will see more of that happening in this third wave which will result in many cities that have been struggling having an opportunity to come roaring back. >> host: you have had this amazing career. but, it started and i went to read a pretty short-- i do want
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to require viewers your essay that you wrote that you applied to business school and it's okay to say-- >> guest: rejected by every single business school i applied to. >> host: this is what you wrote in 1980. that's 26 years ago. so, i firmly believe-- >> guest: thirty-six years ago. >> host: i firmly believe the technological advances in communication are on the verge of significantly altering our way of life. innovation in telecommunication especially to a systems will result in our television sets becoming information lifeline, newspapers, computers, schools, kellogg etc. and clearly this will have eight effect on advertising, as will changes in the number of working habits of the us population.
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new technology will fragment the home audience and allow advertisers to escape the rigidity of commercial format and develop forms appropriate for individual advertising and target marketing. then you finish more portly, the industry must develop executives who have understanding of people who live in electronic society and what motivates them in the ability to anticipate problems that need to be solved, so if you took out a few words in this essay, this could have been written by someone today. >> guest: i got rejected everywhere. rejected from harvard and stanford and most of the companies i applied to out of college. i basically wrote a similar cover letter with my resume and i think they thought i was this weird kid with weird ideas. >> host: anyone who can write that 36 years ago is pretty good scene around corners, so i went to close with getting advice.
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as to how entrepreneurship and about the world, how people of public policy should think about the world, but before i do that is to show that the world is not as linear than people think in other words you write an essay like that you are not immediately accepted to harvard business school and you don't immediately start a company like a lot of people do today that's worth $10 million in four days, so you write this essay out of college. you don't get accepted to harvard or stanford and you go to work at procter & gamble and it can you a job aware-- with a title you say is the best title you have ever heard,-- >> guest: director of new pizza development at pizza hut. it was a great job stephen the last 50 minutes we have talked about technology. >> guest: i traveled around the country and eight pizza and they paid me, but the interesting thing-- when i graduated in 1980 that's what i wanted to do. there was not a startup culture.
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there weren't internet companies had to figure out something to do in the meantime. png in cincinnati was a great experience and i learned a lot. they launched their new products >> host: you have any of those discs? >> guest: i think i do. >> host: do people come up and like watch. >> guest: i think we might have overdone it when i realized we were basically bundling our free trial disk with omaha steaks and that's when i decided we can't too far, but it worked. >> host: you had momentum. >> guest: that came from the png experience i think pizza hut was opposite a png. png is a classic organization and pizza hut was run by the franchise. i was only eight-- at p&g two years and pizza hut one year before it moved to dc enjoyed a company that immediately fail.
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i thought it was a great idea and would be the next big thing and turned out it missed its mark, but thankfully two of the people i met there became the cofounders of aol in 1985, so even there it took us a decade. i wanted-- it requires perseverance. the idea of what i wanted to do that i had in 1980, which inspired me and i wanted to name my book the same thing and thankful he was kind enough to read it and provide a blurb for it, but it took about 10, 15 years before the idea really became real and i think that will be true in the third way because you want to revolutionize health care or education may happen in an evolutionary way and require different mindset. i mention this african proverb if you want to go quickly go alone, but if you want to go park you must go together and that will animate the third wave.
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>> host: i encourage our viewers to read the book because it's not only a great story of technology in the future, but also a great story of perseverance because and again, as a friend i was so happy that you share the part of your life and did not get right to like hey let's talk about public policy. the story of you coming to the company, having failures including a partnership with apple that you had dissolved-- >> guest: they dissolved it. they tore up the contract and we had to rename it american online , which was a crisis that turned out to be an opportunity. >> host: most people would've said that the end of the story. apple decided to not go through with it and there's this kind of -- you would do it about 10 years of setbacks, pioneering new markets, struggling to raise capital that in today's terms are rounding errors in terms of what you read about in terms of deals getting done and a certain
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metal was obviously created in doing that, so the book is a great lessonin leadership and perseverance because it's not always easy. >> guest: more common and if there are examples of overnight successes, but truly revolutionary things take time and i remember meeting seven or eight years ago nelson mandela and he said something i will never forget, which always seems impossible until it happens and that was a different context, but that stayed with me and some of these challenges including opportunities of the great wave will be hard. they will be frustrating and times where people really do say maybe it won't happen even in the early days i got calls from my parents and friends saying, do you have a plan b? i believed in an idea in our team believed in that idea and we stuck with it and figured out a way to work through the issues that were holding us back,
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holding the internet back and eventually broke through and that's part of why decided to write the book because i think that mindset in those stories and lessons will be helpful for the innovators and it's not just for the engineers who will raise the companies, i think everyone needs to think about the future in a more optimistic way of the about how they can think about their own job in a world where there is more definition of work changing with 34% of people and a freelance economy and millions of people working for multiple companies in the same day with a flexible economy. there are positives to that and negatives, but it will continue to develop in the third wave, so how do you position yourself and in hockey east is eight wayne gretzky was great because he did not focus on where the puck was, but where was going in the whole purpose of writing the book is to see where the puck is going and to prepare themselves and their families.
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>> host: and i want you to close with your best piece of advice to young entrepreneur because one of the things that comes across in this book is her thinking about entrepreneur's differently even probably the way you thought about your own entrepreneurship and desire to start a business, which what animated me when i got out of school i said i want to start a business and oscillated. >> guest: successfully. >> host: but, it is different today. i think fortunately entrepreneur's have more of a social vision. there is a great between public policy, social impact, stewardship and entrepreneurship you end your wife jean, who is amazing, have been leaders in this with social impact investing and thinking about investing. you had a great line in the book that entrepreneur should think more about netted path the net worth or maybe the other way, whatever it was, which i thought
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was again because that entrepreneur of our generation i don't necessarily believe that about that way. >> host: sounded. >> guest: it's a big debate and some people say you should focus on mac eight-- maximizing prophet, but the reason i believe in impact investing is prophet is important and having sustainability is important. returning shareholder dividends is important, but purpose is important also and i think this next generation of entrepreneur will be looking for these purpose driven impact kind of companies. you see this with young people particularly the millennial's. they want to do business with companies that stand for something more than profit. they want to or for something that stands for more than profit. i think a new generation of
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entrepreneur that want to change the world with different products and services to improve how kids learn and improve the food we eat, but they also attend this broader impact and how this broader purpose and that's what excites me about the future of america and future of entrepreneurship in america as we level the playing field so everyone has a shot and as we think about the importance of partnership and policy and lead into the future around possibilities of purpose investing i think the brightest days could be ahead and i'm optimistic that if we rally together in the business world works together with the government world and the big companies work together with a small companies and everyone figures out a way to make inclusive so everyone has a shot i think the third wave will be awesome and i'm hopeful this book will be helpful to give people a sense of what might be happening in a bit of a playbook for managing this next phase. >> host: steve, thank you for being here. i'm so happy you told your story, finally. it took you a wild to write this
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book. >> guest: thank you for showing us on c-span. >> host: i encourage our viewers to read it. they will learn more about you and what it means to be a entrepreneur and learn about what's going on in technology and learn about how the government, private sector and nonprofit community can work better together to make our future brighter. thank you. >> guest: thank you. >> c-span, created by america's people television company and brought to you as a public service by your cable or satellite provider. book tv tapes hundreds of author programs throughout the country all year long. here's a look at some of the events we will cover this week. monday, juan thompson, son of the late ahor and journalist hunter s thompson will remember his father in conversation at
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book people book store in austin. tuesday, at harvard university in cambridge massachusetts it is the presentation of the book's prize awarded each year for nonfiction writing. this year's winners includes susan for nagasaki, life after nuclear war and nicholas for kl, a history of the knotty concentration camps. that evening we will be at the national museum of mathematics in new york for math professor andrew hacker's discussion on if advanced athletics should be required in schools. next wednesday through friday, book tv will be in chicago for book expo america, the publishing industry's national trade show where we will talk to others of forthcoming books such as kareem abdul-jabbar, marcia clark and bill ayers as well as publishers and booksellers. that's a look at some of the author programs book tv covers this week with many of the
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events open to the public. look for them to air in the near future on book tv on c-span 2. >> joining us on book tv as trials kessler the editor of claremont review of books. professor kessler, what is that? >> guest: that is the country's leading and possibly only journal, it's only conservative book review, essentially. it's a quarterly and so you don't see it that often, but it is on news stands and you can find it at you may subscribe and is a publication of the claremont institute, which is a conservative think tank in claremont california. >> host: how did the review of books begin? >> guest: it began about 16 years ago because of a self-assessment, really ..


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